Sec. 9. (a) For purposes of this article, the "owner" of tangible
property shall be determined by using the rules contained in this
section.
(b) Except as otherwise provided in this section, the holder of the
legal title to personal property, or the legal title in fee to real
property, is the owner of that property.
(c) When title to tangible property passes on the assessment date
of any year, only the person obtaining title is the owner of that
property on the assessment date.
(d) When the mortgagee of real property is in possession of the
mortgaged premises, the mortgagee is the owner of that property.
(e) When personal property is security for a debt and the debtor
is in possession of the property, the debtor is the owner of that
property.
(f) When a life tenant of real property is in possession of the real
property, the life tenant is the owner of that property.
(Formerly: Acts 1975, P.L.47, SEC.1.)

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Theodoros & Rooth Indiana Personal Injury Lawyer.
Parr Richey Obremskey & Morton Indiana Injury Lawyer.

Last modified: May 28, 2006